Mon, 19th Aug 2024

In this episode of the Daily Financial Services News Wrap, Paige Estritori highlights the Australian Prudential Regulation Authority's call for insurers to address cybersecurity vulnerabilities. This emphasis aligns with global regulatory trends addressing rising security threats. The episode also discusses challenges in Australia's retirement funds, including retirees remaining in accumulation mode and insufficient data on spending habits. An exciting development in this sector is the launch of Conexus Financial's "Retirement Magazine." Market updates reveal the S&P/ASX200 index climbing by 1.34% amid promising US economic data, while the Australian dollar marginally rises. Finally, almost half of Australian small businesses struggle with an increase in operating costs, with a call for energy stability and more government intervention. Visit financialservicesonline.com.au for more.